§ Mr. RaynsfordTo ask the Secretary of State for the: Environment what additional public funding over the provision envisaged, is necessary to meet the full construction costs, including stations at Island Gardens and Cutty Sark, of the proposed docklands light railway extension to Greenwich and Lewisham.
§ Sir George YoungThe full construction costs of the proposed extension, including Cutty Sark and Island 79W Gardens stations, were estimated at £139 million in November 1992. The Government have stated unequivocally from the outset that this project must be taken forward with the private sector in the lead without any Government grant or subsidy. That remains our position. A review of the commercial viability of the project undertaken last autumn indicated that the original estimated cost could not be funded from the level of revenues forecast for the extension. Third parties locally have assigned £7 million to the project but this will not be sufficient to close the funding gap. To ensure the project's financial viability, either major reductions in the scope of the project will need to be made or further third party finance will need to be contributed.
§ Mr. RaynsfordTo ask the Secretary of State for the Environment what plans he has to charge a toll for cross-river journeys on the docklands light railway when it is extended to Greenwich and Lewisham.
§ Sir George YoungWhen London Transport promoted the Bill seeking powers to build the extension of the docklands light railway to Lewisham, it was envisaged that a premium fare, in the form of a cross-river toll, would need to be charged to recover the costs of construction. Current advice confirms that a premium fare will be necessary to make the project financially viable.